“Making a transition at work” is ranked as the toughest life challenge, even more than dealing with bereavement, divorce, and health issues.
When it comes to leadership transitions, it’s a challenge not just for the individual but involves high stakes for the organization too.
If the transition succeeds, the leader’s company will probably be successful. They’re likely to meet their performance goals, have lower attrition rates, generate more revenue and profit than average and the performance of their direct report would be better.
Organizations most often try to help newly appointed leaders by:
o Supplying them with mentors or informal “buddy” networks. (Yet only 47 percent of external hires and 29 percent of internal ones find these helpful).
o Arranging standard orientation programs (only 19 percent of externally and 11 percent of internally recruited executives consider them effective).
o Some methods like tailored executive coaching and customized assimilation plans—have been shown to double the likelihood of success (but only 32 percent of organizations use them.)
In recognizing the challenges leaders face during transitions, the pivotal role of coaching becomes evident. While traditional approaches like mentorship and orientation programs offer some support, the transformative impact of tailored executive coaching often goes underutilized.
Let’s look at a few scenarios that which IndusGuru Team has come across:
[A]
When leaders struggle through a transition, the performance of their direct reports is 15 percent lower than it would be with high-performing leaders. The direct reports are also 20 percent more likely to be disengaged or to leave the organization.
Leadership transitions are critical for organizations and especially the teams directly involved. Coaching cuts down on the time needed to make important transitions while keeping the team productive.
For example, when Arun (name changed) became the CFO for a global Alcobev company, IndusGuru Network Partners was approached to engage an expert possessing extensive financial expertise and a passion for coaching for better alignment of direct reports with the CFO. The objective was to provide advice to direct reports that leads to highly productive outcomes through effective working and communicating with senior management.
Great leaders are committed to the team’s success, but every leadership transition creates uncertainty impacting the team’s productivity. In such transitional phases, leadership coaching provides a supportive framework, says Deepak Malkani, co-founder of IndusGuru.com
[B]
When key people in organizations move from one level to the next, they need to become aware of the new behaviours that are needed and the behaviours that can be let go.
For example, when Varun (name changed) transitioned from an individual contributor to a managerial and functional head role in an Indian Health Fund company, IndusGuru was tasked to find an executive coach to support him in this transition. The objective was to establish Varun’s credibility with the team as a leader and ensure high performance from the team.
Varun had to explore all the behaviours like shifting the perspective, making the team heard and validated, and learning to delegate more among other things with his coach.
[C]
How leaders adapt, integrate, and align their strategies and teams during and post-merger can make the difference between a fruitful union and a regrettable misstep. Leadership coaching can help in smoother transition and maximizing the potential for success.
Financial and legal due diligence is given during M&A activity because every technical and legal aspect of the transaction must be done correctly. But in all the details involved in M&A, it can be easy for leadership to place Cultural Interaction, Change Management, Team Alignment, and other related aspects on the back burner.
Leadership coaching is crucial during mergers and acquisitions to support leaders in navigating challenges, fostering collaboration, and driving the success of the newly formed entity. It enhances leadership effectiveness, promotes cultural integration, and contributes to the overall success of the M&A process.
Leadership coaches play a crucial role as invaluable partners for leaders aiming to elevate their personal brand during times of change. This collaboration is instrumental in strengthening their credibility and fostering trust among employees, stakeholders, and the broader organization. This is crucial in times of change, such as M&A, where uncertainties may exist, says Shanu Malkani, co-founder of InduGuru.com
Conclusion
Many times, it is assumed that professionals who have demonstrated success in the past will be able to naturally evolve into new and more demanding leadership roles. It would seem that Marshall Goldsmith’s advice—“What got you here won’t get you there”—is fully applicable to executive transitions. Even for those who have demonstrated success in the past, the journey into higher leadership positions requires unique tools and strategies. Here, coaching emerges as a strategic ally.
How we can help?
IndusGuru Network Partners is India’s leading Online Curated Business Network, to identify and engage independent business Experts, Consultants, and Leadership Coaches. We have a curated network of senior Leadership Coaches, with a strong track record in Business or HR Leadership roles, certified by CFI, ICF, and Marshall Goldsmith, with some focusing exclusively on CEO / CXO coaching. We cover diverse Industry Sectors, including FMCG, Apparel, Pharma, Auto, Industrial Manufacturing, Chemicals, and Logistics. To onboard a Leadership Coach, get in touch with us at +91 98200 88316 or deepak.malkani@indusguru.in. For more details, visit https://www.indusguru.in/.